The Climate Bonds Initiative has released the draft Marine Renewable Energy Criteria, which are available for public consultation and comment until 12 July.

The World Ocean Council (WOC) is a member of the Industry Working Group (IWG) for Marine Renewable Energy Investments, consisting of organizations from the marine, investor and verifier community.

In addition to the WOC, the IWG includes Black Rock, Credit Suisse, Althelia, Danske Bank, Trucost part of S&P Dow Jones Indices, DNV GL, World Bank, Carbon Trust, Tidal Lagoon Power, Ocean Renewable Power Company, Scotrenewables Tidal Power Ltd, Kestrel Inc, and NSF. The draft criteria were initially prepared by a multi-sectoral, experts Technical Working Group.

The goal of the marine bonds is to catalyze increased investment, by both private and public bodies, in material marine based climate mitigation, adaptation and resilience interventions. Once completed and released, the criteria can be used by green bond issuers who are seeking Climate Bonds Certification, which is a tool to assist investors and issuers in prioritizing investments that contribute to addressing climate change.

The “WOC Ocean Investment Platform” is being developed to provide a global structure and process for advancing investment in responsible ocean development, including through the use of tools such as the Marine Renewable Energy Certification of the Climate Bonds Initiative.

Source: World Ocean Council